Paying off principal on high interest credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Expired |
| Grade: | D | DTI: | 47% |
| Lender Rate: | 19% | Borrower: | rivguy14 |
| Finished | State: | CA | |
| Funded: | 0% | Group: | PLEDGE - Open Membership!!! |
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I'm a 39 year old single man with no children. I have been working at a multi-specialty doctor's office for over 20 years. I have been the billing supervisor for 11 of those years. I am looking forward to paying off some of my high interest credit cards. Due to a delinquency this year on a student loan that I co-signed with my best friend, some of the credit card companies have increased the rates on my accounts to above 30%. This account has been paid off in December. (Sallie Mae refuses to remove the delinquencies even though the account is paid in full.) My DTI (debt to income) ratio is high due to the fact that I used to have a higher income at my company 5 years ago by adding bonuses to my income. After 2003, the company stopped paying bonuses to supervisors, thus I have my base pay to work with. My annual income is in the $41,000 to $49,000 range. Rent $690 Car Pmt $555 Car Ins $150 Gas $50 Utilities $120 Food $200 Cable $85 Credit Cards $500 Misc Exp $100 I will use $5000 to pay off the remaining high interest credit cards. I would rather pay off a loan than to be stuck in a cycle of only paying finance charges to credit card companies each month. After this loan is paid off, I will be able to pay down and pay off my other credit cards, so I can begin the positive cycle of having extra money each month and not just living paycheck to paycheck. Then I will be able to help other people when they are in a financial bind. The delinquency with the student loan is due to my friend and his wife both losing their jobs during the year. Now they are both employed and working again to repay me, but I cannot count on repayment due to their fixed income. My last funded loan in December 2006 has helped me alot. My credit score is improving slowly. I am thankful for this program that has made my life easier. I am glad I joined PLEDGE because I am honest and have the integrity to pay my bills. Thank you in advance for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 59185 | Paying down credit card debt containing high interest rates | E | $3,850 @ 17% | Nov 09, 2006 | Withdrawn |
| 61419 | Paying off principal on high interest rate credit cards | E | $3,850 @ 22% | Nov 14, 2006 | Withdrawn |
| 64044 | Paying off principal on high interest rate credit cards | E | $3,850 @ 28% | Nov 20, 2006 | Expired |
| 69600 | Paying off principal on high interest credit cards | E | $4,250 @ 25% | Dec 02, 2006 | Loan created |
| 273380 | Paying off principal on high interest credit cards | D | $7,225 @ 20% | Jan 29, 2008 | Loan created |
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